ground. we have to caught the size of the defense budget that is bigger than the next 11 or 12 nations combined. there is compromise, there is a middle ground and certainly there is a path forward on all of these issues. >> if the deficit can only be resolved in increasing taxes and cutting expenses. what expenses would you cut? >> i don't believe we should cut across the board. we should cut strategically. s there -- there is fat, no question about it. i would start there. there is no question that this defense budget is bloated. i'm speaking -- i can tell you the mayors of the country want to see less spending on defense and more spending on bridges and roads and highways and schools. investments that will bear dwiveds down the line. i also said -- i'm a democrat and this does not fly with some democrats but you have to look at some entitlements. you can be for entilettlement reform and not want to turn health care into vouchers. i can tell you mayors have gotten the support of pension reform. there's a number of things we can do that don't decimate the safety net but do, you know, m

. i have had enough playing defense. enough. we have earned this at the table many times over. now it is our time to take our place at the head of the table. this was a mandate for women's leadership. our lives were under attack. our candidates ran and won across the country. our vote proved decisive in electing the president. now it is our turn to drive the conversation. [applause] nobody works harder to turn out women's voters and emily's list. nobody knows more about why they voted the way they did. they stood up not just to preserve the right to make their own health care decisions but to secure equal pay for equal work, it to protect medicare for seniors and to build an economy that works for the middle class. that is exactly what we should expect from washington. i am proud to say we have a president we can count on it. president obama has taken strong stands with women and families on health care, equality, economic security. he appointed two fantastic women to the united states supreme court. he chose his biggest rival to be his biggest partner on the world stage. we are so

respect. you will have a great secretary of defense in bob gates. you will have a great secretary of veterans affairs in general erik shinseki. [applause] and every single day that i am in the white house, i will try to serve you as well as you are serving the united states of america. as i said earlier today, while the tests we face are new, and the ways in which we meet them may be new, the values on which our success depends are old. those values like hard work and honesty, courage and tolerance, loyalty and patriotism, those are values that are embodied in our armed forces. what's required is for all of us to return to those values, what's required is all of us to embrace a new era of responsibility where we expect and demand not only more of our leaders, but more of ourselves. so tonight, we celebrate, but tomorrow the work begins. and i look forward to joining you in that effort. together i am confident that we will write the next great chapter in america's story. now, i've got a little surprise for some of you. as i said before, we have folks who are working right now, in i

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